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Identify each of the following items relating to sections of a balance sheet as Current Assets (CA), Property and Equipment (PE), Current Liabilities (CL), Long-Term Liabilities (LTL), or Owner’s Equity (OE). a. Accounts Payable b. Equipment c. Accounts Receivable d. Prepaid Insurance e. Mortgage Payable (current) f. Office Supplies g. Mortgage Payable (due in 3 years) h. Unearned Rent i. B. Marley, Capital j. Notes Payable (due in 3 months)

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College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
Publisher: South-Western College Pub
ISBN: 9781337280570
BuyFind

College Accounting (Book Only): A ...

13th Edition
Scott + 1 other
Publisher: South-Western College Pub
ISBN: 9781337280570

Solutions

Chapter
Section
Chapter 12, Problem 5E
Textbook Problem

Identify each of the following items relating to sections of a balance sheet as Current Assets (CA), Property and Equipment (PE), Current Liabilities (CL), Long-Term Liabilities (LTL), or Owner’s Equity (OE).

  1. a. Accounts Payable
  2. b. Equipment
  3. c. Accounts Receivable
  4. d. Prepaid Insurance
  5. e. Mortgage Payable (current)
  6. f. Office Supplies
  7. g. Mortgage Payable (due in 3 years)
  8. h. Unearned Rent
  9. i. B. Marley, Capital
  10. j. Notes Payable (due in 3 months)

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Chapter 12 Solutions

College Accounting (Book Only): A Career Approach
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